Bharti Airtel hits seven-month high after surprise Q4 profit; stock up 2%

The telecom operator earned a net profit of Rs 107.2 crore in January-March, a jump of 29 per cent from the year-ago period. This is the first rise in profit after several quarters for the company.

Shares of Bharti Airtel rose 2.2 per cent to Rs 340.85, its highest level in seven months, in early morning trade on the NSE after the company reported a surprise 29 per cent surge in March quarter (FY19Q4) net profit as exceptional income gains and Africa business helped offset losses in India mobile services operations.

The telecom operator earned a net profit of Rs 107.2 crore in January-March period against Rs 82.9 crore it earned in the same period of the previous fiscal. This is the first rise in profit after several quarters for the company. Revenue soared 6.2 per